New Residential Investment Corp. (NRZ) Sees Large Volume Increase

New Residential Investment Corp. (NYSE:NRZ) saw unusually-strong trading volume on Wednesday . Approximately 2,319,337 shares traded hands during mid-day trading, a decline of 17% from the previous session’s volume of 2,797,752 shares.The stock last traded at $12.91 and had previously closed at $13.05.

A number of analysts have recently commented on NRZ shares. Zacks Investment Research upgraded New Residential Investment Corp. from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research report on Wednesday, April 6th. Credit Suisse Group AG restated a “buy” rating and issued a $17.00 price objective on shares of New Residential Investment Corp. in a research report on Thursday, March 31st. Sterne Agee CRT restated a “buy” rating on shares of New Residential Investment Corp. in a research report on Monday, May 16th. Compass Point cut New Residential Investment Corp. from a “buy” rating to a “neutral” rating and set a $15.00 price objective for the company. in a research report on Wednesday, May 18th. Finally, Vetr upgraded New Residential Investment Corp. from a “buy” rating to a “strong-buy” rating and set a $15.40 price objective for the company in a research report on Monday, June 13th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $15.24.

The company has a 50 day moving average of $13.45 and a 200 day moving average of $12.05. The stock has a market capitalization of $3.01 billion and a PE ratio of 8.55.

New Residential Investment Corp. (NYSE:NRZ) last posted its quarterly earnings data on Wednesday, May 4th. The real estate investment trust reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by $0.01. During the same period in the prior year, the business earned $0.29 earnings per share. On average, equities analysts predict that New Residential Investment Corp. will post $1.72 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 29th. Shareholders of record on Thursday, July 7th will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Tuesday, July 5th. This represents a $1.84 dividend on an annualized basis and a yield of 14.11%.

Other hedge funds recently bought and sold shares of the company. Nationwide Fund Advisors boosted its stake in New Residential Investment Corp. by 0.7% in the fourth quarter. Nationwide Fund Advisors now owns 436,450 shares of the real estate investment trust’s stock worth $5,307,000 after buying an additional 2,936 shares during the last quarter. California State Teachers Retirement System boosted its stake in New Residential Investment Corp. by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 427,047 shares of the real estate investment trust’s stock worth $5,193,000 after buying an additional 6,818 shares during the last quarter. Comerica Bank boosted its stake in New Residential Investment Corp. by 3.3% in the fourth quarter. Comerica Bank now owns 280,767 shares of the real estate investment trust’s stock worth $3,240,000 after buying an additional 9,043 shares during the last quarter. Rhumbline Advisers boosted its stake in New Residential Investment Corp. by 4.7% in the fourth quarter. Rhumbline Advisers now owns 310,016 shares of the real estate investment trust’s stock worth $3,770,000 after buying an additional 13,955 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its stake in New Residential Investment Corp. by 7.2% in the fourth quarter. New York State Common Retirement Fund now owns 221,200 shares of the real estate investment trust’s stock worth $2,690,000 after buying an additional 14,900 shares during the last quarter.